Judging by the collapsing Greek yields, which at this rate may drop below US bonds soon enough, the Greek economy has never been stronger. Sadly, manipulated bond levels driven by yet another bout of pre-QE euphoria (suddenly the conventional wisdom is that the ECB will conduct QE in a few months as first explained here in November) no longer reflect anything besides a massive liquidity glut and momentum chasing lemmings. Alas, as usual the reality on the European ground is much worse.

Rio de Janeiro (AFP) - Brazilian police began questioning 23 people arrested as part of a wide-ranging probe into allegations of a multibillion-dollar kickback scheme at state-owned oil giant Petrobras.

OMAHA, Neb. — Billionaire Warren Buffett said Wednesday it would be idiocy for the nation’s leaders to allow the United States to default on its bills.
Buffett is a renowned investor who leads the Berkshire Hathaway conglomerate. He appeared Wednesday on CNBC.
Buffett said he thinks it would be absurd for American politicians to do anything to damage the country’s reputation for paying its bills that has been established over the past 237 years.